Don't Go There: This Business Break Is No Bonus For New Jersey's Budget

From a business standpoint, the federal economic stimulus package passed by Congress and
signed into law by President Bush in March makes depreciation deductions more generous.
The economic stimulus package, named the Job Creation and Worker Assistance Act of
2002, introduces what is called "bonus depreciation," which allows businesses to claim an
immediate, additional tax deduction of up to 30 percent of the cost of certain new
equipment purchases - instead of following the standard accounting practice of depreciating
the full cost gradually over several years.

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From a business standpoint, the federal economic stimulus package passed by Congress and
signed into law by President Bush in March makes depreciation deductions more generous.
The economic stimulus package, named the Job Creation and Worker Assistance Act of
2002, introduces what is called "bonus depreciation," which allows businesses to claim an
immediate, additional tax deduction of up to 30 percent of the cost of certain new
equipment purchases - instead of following the standard accounting practice of depreciating
the full cost gradually over several years.